06:18 AM EST, 11/04/2024 (MT Newswires) -- Wall Street futures pointed moderately higher pre-bell Monday as traders took positions ahead of the pending US national election results, and the Federal Reserve's rate call on Thursday.

In the futures, the S&P 500 rose 0.3%, the Nasdaq inclined 0.3% and the Dow Jones was up 0.1%.

There is a greater than 98% chance the Fed will cut its key policy rate by 0.25% at the conclusion of this week's policy meeting, according to CME FedWatch.

Crude oil prices migrated higher after OPEC signaled an extension of production cuts through the remainder of 2024.

Asian exchanges traded mostly higher overnight on the outlook for an announcement of macroeconomic stimulus plans, in Beijing this week.

European bourses edged north midday on the continent.

On the economic calendar is the factory orders report for September at 10 am ET.

In premarket action, Bitcoin traded at $68,752, West Texas Intermediate crude oil traded higher at $71.09, and 10-year US Treasuries offered 4.30%. Spot gold traded for $2,741 an ounce.